Cutting Edge Corporation Makes and Sells Knives, Scissors, Garden Shears

question 31

Multiple Choice

Cutting Edge Corporation makes and sells knives, scissors, garden shears, and other cutting devices. To cover injuries to consumers if the products prove defective, Cutting Edge should obtain

• A)malpractice insurance.
• B)key-person insurance.
• C)liability insurance.
• D)life insurance.

---

Definitions:

Simple Random Sample

An element of a statistical population where each member has an equal chance of being included.

Sample Proportion

The fraction of items in a sample that have a particular attribute, used as an estimate of the proportion in the full population.

Population Proportion

The ratio of members in a population who have a certain attribute to the total number of members in the population.

Equal Chance

The principle or condition ensuring that all outcomes or members of a group have the same probability of occurrence or selection.